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Manchester United posts a £115.5 million net loss

Manchester United posts a £115.5 million net loss

Manchester United posts a £115.5 million net loss

Manchester United posts a £115.5 million net loss

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  • Manchester United reported a net loss of £115.5 million for the 2021–22 season.
  • Losses came despite an 18% increase in revenue to £583.2 million.
  • Club’s debt increased by more than 22% from £419.5m in 2021 to £514.9m this year.
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Manchester United reported a net loss of £115.5 million for the 2021–22 season despite an 18% increase in revenue to £583.2 million.

Data released following the conclusion of their fiscal year in June showed that losses rose by £23.3 million from 2021 to 2018.

The club’s debt climbed as well; it increased by more than 22% from £419.5 million in 2021 to £514.9 million this year.

Richard Arnold, the club’s CEO, stated that “our club’s aim is to win football matches and excite our fans.”

As a result of their additions last summer, the salaries of players like Cristiano Ronaldo, Jadon Sancho, and Raphael Varane, among others, jumped by 19.1%, or £61.6 million, to £384.2 million.

The sum breaks Manchester City’s previous record of £355 million to become the highest ever in the history of the Premier League.

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“Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans, and new commercial partnerships offset by increased investment in the playing squad,” said chief financial officer Cliff Baty.

“Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs.”

Managers Ole Gunnar Solskjaer, who was fired in November 2021, and Ralf Rangnick, who initially took over as interim manager but turned down a two-year consultancy job at the end of the season, received payouts totaling £24.7 million.

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